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Lombard Business Finance FAQ

Who is Lombard?

Established in 1861 and acquired by Royal Bank of Scotland in 2000, Lombard is a UK-based asset finance provider. It has a history of providing finance to businesses looking to grow their enterprises with the lease or purchase of business-specific assets such as large-scale equipment, industrial buildings, machinery or plants. Lombard also provides leasing options for certain assets and technologies.

What services and products does Lombard offer?

Lombard offers a range of business loan-type services relating to asset finance, including asset finance and management. The most common types of asset finance are operating lease, contract hire, finance lease and hire purchase.

Lombard offers business loans in the form of asset finance, which is used by businesses to obtain the equipment or facilities they need to grow. Asset finance arrangements usually involve a payment schedule in exchange for regular use of an asset over an agreed period of time. This gives businesses access to the assets they need without purchasing the items in full.

Who can apply for Lombard asset finance?

Various UK based businesses can apply for Lombard asset finance. Terms and conditions may apply based on the nature of your business.

How does Lombard asset finance work?

Asset finance, offered by companies like Lombard, can be used to hire or purchase a range of business assets. Depending on your agreement, Lombard will offer you a contract whereby you are given the use of a certain asset in exchange for regular payments.

What can Lombard asset finance be used for?

Asset finance, as offered by companies like Lombard, can be used to hire or purchase various business-related assets such as machinery, industrial equipment, manufacturing equipment, computer technology, agricultural equipment, construction materials, vehicles, renewable energy equipment and industrial facilities.

How do I apply for Lombard asset finance?

To apply for Lombard asset finance, use our comparison tables to navigate to the company’s website. You can then click on the relevant link to receive a hire purchase quote. From here you will be able to submit certain details related to your business and the type of asset you would like to use the asset finance loan for. After you receive a quote you will be able to apply to Lombard who will get in touch with you about further details of your agreement.

How long will my asset finance agreement last?

Asset finance agreements are usually long-term arrangements where businesses pay back the value of the asset over a set period of time. The details of your specific agreement will vary depending on your asset and business type. Lombard will offer you a quote for your asset and details about the terms before the agreement is finalised.

What happens when an asset finance agreement comes to an end?

If you have completed the full term of your lease agreement for your asset, you may be able to arrange another agreement with Lombard to continue leasing the specific asset.